The Gold Standard Is a Type of

question 110

Multiple Choice

The gold standard is a type of

• A) fixed exchange rate system.
• B) flexible exchange rate system.
• C) floating exchange rate system.
• D) barter currency system.

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Definitions:

Conforming Behavior

Actions that align with the norms, values, or expectations of a social group or society.

Group Pressure

The influence exerted by a group on individuals within it to align their behavior with the group’s norms.

Philip Zimbardo

Philip Zimbardo is a psychologist renowned for his research on social psychology, particularly the Stanford prison experiment, which explored the effects of perceived power and environment on behavior.

Group Pressure

The influence exerted by a group that encourages conformity of behavior and belief.